The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-06-29

noon session, essays and discussion. Night
session, experience meeting. Third day,
discussions ande says. Afternoon session,
unfinished and miscellaneous business; new
business; adjournment.
At Macou Saturday, in the United States
Circuit Court, in the case of J. K. o. Sher-
wood against Rebecca Rountree, Judge
Speer rendered decision in his charge to
the jury which is regarded by leading MEM
bers of the bar as one of the most far-reach-
ing and important in its consequences which
has been made in this circuit for years. The
tendency of an immense number of suits
against land owners in Georgia in
which the principle decided is appli-
cable, gives it this importance. The
testimony in the case was that the
agents of the money lenders DEDUCTED 20 per
cent. by way of commissions, and counsel in
argument stated that in all the borrower
had paid 43 per cent. interest. This, OF
course, under the Georgia Jaw, would be
Usurious, and the usury would render void
any deed or mortgage made TO secure such
a debt, provided that the true lender of the
money had notice of the usury. 1t was in
evidence that Sherwood, through the Cor
bin Banking Company of New York,
had made many of these loans, and
Judge Speer charged the jury that
II from the nature of the transac-
ton, the great number of the loans
of this character made where the deeds
and mortgages were executed to the plain
tiff in this case; the continuous nature OF
the transactions and Importance of the
amounts involved, it was reasonable to be
inferred that man of ordinary prudence
in his business transactions would under
stand and know it, in the absence of proof
to the contrary, and that presumption not
rebutted by proof would charge him with
all the consequences of the usurious con-
tract of his agents; and that if this be true,
the plaintiff can only recover the legal rate
of interest. The most widespread effect OF
the decision will be that such usury would
render void the deeds and mortgages exc
cuted to these usurious loans.
Just half mile from the corporation line
of Griffin, on the Macon road, there nestles
in beautiful grove the coy home of Mr..
and Mrs Lyons. Recently w. II. H. Lyons,
the father of Mrs. Lyons, arrived from
Rochester, n. Y, on visit. In wandering
over the farm his attention was attracted TO
peculiar, yet familiar to him, formation
of the ground. The earth at particular
place had every indication of bituminous
limestone, a never-failing sign of gas and
petroleum. Upon a close examination of
the earth he discovered that there was that
damp, oily appearance indicative of pc
troleum. The emulation appeared so clearly
that he is confident that he cannot be mis-
taken in his opinion that gas and petroleum
can be found in this place Mr.. Lyons
opinion in this matter is valuable. He was
raised in Rochester, n Y, and is per
fectly familiar with the oil fields of
Bloomdale. He has made extern
sive investigations of the subject and
says there is no reason why as fine oil and
gas cannot be found here as in New York,
Pennsylvania or Ohio. In his investigation
he learned that the Indians when here were
in the habit of coming TO a spring near by
this place for water, which they called
medicine water" Old Uncle Tillman Sea-
graves, who recently died near this place
remembered well Indians coming after this
water and relating wonderful cures effected
by it. 1t is true, continued Mr.. Lyons, that
the Indians used to collect the petroleum oil
on the shores of Seneca Lake and sell it as
medicine, by the name of "Seneca or Yene-
see OIL" An effort will be made to have an
analysis made to ascertain if there is gas or
oil. Should a gas and oil well be found it is
impossible to foretell the beneficent results
to Griffin and Spalding county. The wen will
be sufficiently convenient to run pipes into
the city, so that instead of the Pickering kero
sene lamps that now dimly hight our streets
natural gas jets will adorn and beautify the
town.